Policy Options on Accelerating Development of International Consumer Centers in China(No.29, 2017)

2017-04-11

By Wang Qing & Wang Wei, Research Team on “Policy Options for the Construction of International Consumer Centers in China in the New Era”, Institute of Market Economy, DRC

Research report No.29, 2017 (Total 5104) 2017-3-3

Abstract: One of the core functions of international consumer centers in mega-cities is to lead the performance of business operations in a country or even in the world. These centers are also served as markets for the allocation of consumer resources, playing a dominant role in leading the world consumer fashion. After entering a state of new normal, China’s economy is facing a pivotal period for cultivating and developing international consumer centers. Some mega-cities in China with bulk business dealings already enjoy relevant conditions for the establishment of international consumer centers. However, in their pilot practice, these cities are confronted with a series of problems and obstacles, and they urgently need the government to strengthen strategic planning and accelerate system and mechanism innovation. Under such a landscape, the government needs to select some big cities and launch trials in setting up some flagship business centers while implementing preferential policies such as increasing market supply, fleshing out weak links, and improving commercial environment. The government needs to boost efforts in cultivating international consumer centers and encouraging them to become new engines and new carriers, propelling domestic consumption and promoting the optimization and upgrading of industrial structure through an all-round opening up manner,

Key words: international consumer centers, system and mechanism, innovation, policy